The aftermath of a landslide, heap leach failure and possible cyanide leak at Victoria Gold’s (TSX:VGCX) Eagle gold mine in Yukon Territory continues to be the biggest story in the gold industry.
Details since the slide have been sparse, but Mining.com reported that Yukon Territory has filed charges against Victoria Gold for water management violations.
Shares of Victoria Gold (TSX:VGCX) have cratered, dropping 88.8 per cent since the June 24 incident. Victoria Gold stock was trading at C$0.835 Tuesday. Kalloghlian Myers LLP announced it is investigating a potential investor class action against the company and certain directors and officers.
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Commodity prices
As of the time of this writing Tuesday, the price of gold sits at US$2,338.70 per ounce, which is up 0.845 per cent over a one-week period. Year-to-date, the price of gold is up 18.03 per cent, according to data from Kitco.com.
This week in gold
- Endeavour Mining (TSX:EDV) achieved its first gold pour from its 80%-owned Lafigué mine in Côte d’Ivoire on Friday on budget, a quarter ahead of schedule and only 21 months after construction.
- Vizsla Silver (TSXV:VZLA) is reporting results from five new drill holes from the Copala resource area at its flagship Panuco silver-gold project in Mexico, including the property’s highest-grade intercept to date.
- At the halfway mark of 2024, we take a dive into how the gold price has performed, and what supply and demand has looked like this far.
- Bonus: Be sure to check out Stockhouse’s look at three TSX gold stocks that are up so far in 2024.
Top six trending gold stocks
Join the discussion: Find out what everybody’s saying about gold industry companies, public companies and hot topics about stocks at Stockhouse’s stock forums and message boards.
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(Top photo of a dump with mine tailings at a gold mine in Canada’s Yukon Territory: Adobe Stock)